Suchergebnisse

In recent years, the violation of the principles that guarantee the respect of democratic norms and institutions has placed Serbia into the category of deficient democracies, and more recently in hybrid regimes. Since the beginning of the transition, the implementation of political and economic reforms in Serbia has been characterized by frequent shifts of periods with modest progress in the field of political and economic transformation with periods of stagnation and even backsliding in regards to the important reform segments. The indicators of political and economic reforms point to the strengthening of extractive institutions. Extractive institutions protect the economic and political interests of privileged groups to the detriment of the rest of society. This leaves fewer resources available to stimulate economic growth and job creation, with negative countereffects on the regime legitimacy and trust, which are crucial for the implementation of economic reforms. Serbia's failure to provide stronger economic growth is largely caused by extractive institutions that determine the business environment. The development of extractive institutions is indicated by the absence of a more even distribution of political power, weaknesses in the mechanisms of checks and balances, deficiencies in the sphere of the rule of law, widespread corruption, problems in the sphere of protection of property rights. The transitional developments in Serbia can be regarded as a historical heritage that adapts to the current social environment and has a great impact on institutional performance and democratic consolidation. Prolonged exposure to extractive institutions creates a cumulative effect of institutional learning, where individuals become vulnerable to political abuse, dependent on the state and unwilling to use political mechanisms of government accountability, contributing to a vicious circle of extractive political and economic institutions. Identifying the mechanisms of such accumulation, which include prolonged exposure to extractive institutions, as well as the transmission of cultural patterns from older generations who have long experience with extractive institutions, is a complex research task.

In recent years, the violation of the principles that guarantee the respect of democratic norms and institutions has placed Serbia into the category of deficient democracies, and more recently in hybrid regimes. Since the beginning of the transition, the implementation of political and economic reforms in Serbia has been characterized by frequent shifts of periods with modest progress in the field of political and economic transformation with periods of stagnation and even backsliding in regards to the important reform segments. The indicators of political and economic reforms point to the strengthening of extractive institutions. Extractive institutions protect the economic and political interests of privileged groups to the detriment of the rest of society. This leaves fewer resources available to stimulate economic growth and job creation, with negative countereffects on the regime legitimacy and trust, which are crucial for the implementation of economic reforms. Serbia's failure to provide stronger economic growth is largely caused by extractive institutions that determine the business environment. The development of extractive institutions is indicated by the absence of a more even distribution of political power, weaknesses in the mechanisms of checks and balances, deficiencies in the sphere of the rule of law, widespread corruption, problems in the sphere of protection of property rights. The transitional developments in Serbia can be regarded as a historical heritage that adapts to the current social environment and has a great impact on institutional performance and democratic consolidation. Prolonged exposure to extractive institutions creates a cumulative effect of institutional learning, where individuals become vulnerable to political abuse, dependent on the state and unwilling to use political mechanisms of government accountability, contributing to a vicious circle of extractive political and economic institutions. Identifying the mechanisms of such accumulation, which include prolonged exposure to extractive institutions, as well as the transmission of cultural patterns from older generations who have long experience with extractive institutions, is a complex research task.

Renowned international organizations classify Serbia as a democracy. However, they usually assess the state of democracy on the basis of the narrow theoretical concept of electoral democracy, which easily creates a fallacy that the free elections represent not only a necessary but sufficient condition for democracy. The concept of liberal consolidated democracy, in addition to procedural aspects, implies stricter normative and analytical criteria, such as the rule of law and the mechanisms of vertical and horizontal accountability, which constitute institutional guarantees for the application of fundamental democratic principles. In the absence of these mechanisms, electoral democracies become defective. According to relevant research, Serbia is classified as a semi-consolidated (defective or flawed) democracy. Irregularities in election procedures, as well as the violation of elements that guarantee respect for democratic norms and institutions in recent years indicate a certain democratic "regression". Bearing this in mind, the paper examines the extent to which the rule of law represents support to the consolidation of democracy in Serbia and points out to the potential causes of the observed deficiencies in this area, which aggravate the consolidation of democracy.

Renowned international organizations classify Serbia as a democracy. However, they usually assess the state of democracy on the basis of the narrow theoretical concept of electoral democracy, which easily creates a fallacy that the free elections represent not only a necessary but sufficient condition for democracy. The concept of liberal consolidated democracy, in addition to procedural aspects, implies stricter normative and analytical criteria, such as the rule of law and the mechanisms of vertical and horizontal accountability, which constitute institutional guarantees for the application of fundamental democratic principles. In the absence of these mechanisms, electoral democracies become defective. According to relevant research, Serbia is classified as a semi-consolidated (defective or flawed) democracy. Irregularities in election procedures, as well as the violation of elements that guarantee respect for democratic norms and institutions in recent years indicate a certain democratic "regression". Bearing this in mind, the paper examines the extent to which the rule of law represents support to the consolidation of democracy in Serbia and points out to the potential causes of the observed deficiencies in this area, which aggravate the consolidation of democracy. ; Poznate međunarodne organizacije klasifikuju Srbiju kao demokratiju. Međutim, one ocenjuju stanje demokratije prema teorijskom konceptu izborne demokratije, što može da stvori zabludu da slobodni izbori predstavljaju ne samo neophodan, već i dovoljan uslov za demokratiju. Koncept liberalne konsolidovane demokratije, pored proceduralnih aspekata, podrazumeva ispunjavanje strožih normativnih i analitičkih kriterijuma, kao što su vladavina prava i mehanizmi vertikalne i horizontalne odgovornosti, koji predstavljaju institucionalne garancije za primenu osnovnih demokratskih principa. U nedostatku ovih mehanizama, izborne demokratije postaju manjkave. Prema relevantnim istraživanjima, Srbija je klasifikovana kao polukonsolidovana (defektna ili ...

Starting from the legal position of the National Bank of Serbia, the paper analyzes the objectives entrusted to this institution by domestic legislation. In line with the dominant monetary paradigm, the main goal of the central bank of Serbia is price stability. After the global financial crisis, financial stability is increasingly mentioned as the objective that central banks implement. This also applies to the central bank in Serbia (National Bank of Serbia), which has a clear mandate to take account of financial stability, in addition to monetary stability. Finally, as an important subject of economic policy, the National Bank of Serbia, by exercising the entrusted functions also affects the achievement of other economic policy objectives. It should be kept in mind that domestic legislation precisely determines the hierarchy of the objectives of the central bank, considering that it explicitly stipulates that the National Bank of Serbia primarily takes care of monetary and financial stability, and only then it provide support for general economic policy, provided that it does not jeopardize the exercise of the basic objectives.

Starting from the legal position of the National Bank of Serbia, the paper analyzes the objectives entrusted to this institution by domestic legislation. In line with the dominant monetary paradigm, the main goal of the central bank of Serbia is price stability. After the global financial crisis, financial stability is increasingly mentioned as the objective that central banks implement. This also applies to the central bank in Serbia (National Bank of Serbia), which has a clear mandate to take account of financial stability, in addition to monetary stability. Finally, as an important subject of economic policy, the National Bank of Serbia, by exercising the entrusted functions also affects the achievement of other economic policy objectives. It should be kept in mind that domestic legislation precisely determines the hierarchy of the objectives of the central bank, considering that it explicitly stipulates that the National Bank of Serbia primarily takes care of monetary and financial stability, and only then it provide support for general economic policy, provided that it does not jeopardize the exercise of the basic objectives. ; U radu se polazeći od pravnog položaja Narodne banke Srbije analiziraju ciljevi koje domaće zakonodavstvo poverava ovoj instituciji. U skladu sa dominantnom monetarnom paradigmom, osnovni cilj centralne banke Srbije je stabilnost cena. Nakon globalne finansijske krize, u domenu ciljeva, koje centralne banke realizuju, dolazi do promene u smislu da se kao cilj sve češće pominje finansijska stabilnost. To važi i za centralnu banku Srbije koja ima jasan mandat da, pored monetarne stabilnosti, vodi računa i o finansijskoj stabilnosti. Najzad, kao bitan subjekt ekonomske politike, Narodna banka Srbije obavljanjem poverenih funkcija utiče i na ostvarivanje ostalih ciljeva ekonomske politike. Ono što treba imati u vidu to je da domaće zakonodavstvo precizno određuje hijerarhiju ciljeva centralne banke, budući da se izričito propisuje da Narodna banka Srbije prvenstveno brine o monetarnoj i ...

The purpose of this paper is to explore the dynamics of civic participation in Serbia, as well as to test its relevance for the level of citizens' political involvement. For estimating the impact of the membership in civic associations on political party membership and non-conventional types of political activism, the non-parametric analyses of variance test, followed by post hoc testing has been employed. The main findings of the analysis suggest that civic participation is a significant predictor of political activism of Serbian citizens. The results of the empirical procedures indicate significant differences in the degree of political participation, based on the levels of citizens' engagement in community organizations. The implications of the study could serve as the grounds for designing policies aimed at strengthening civic society and creating incentives for citizens' active involvement in political life. ; Cilj rada je da istraži dinamiku građanske participacije u Srbiji, kao i da ispita njen uitcaj na političko angažovanje građana Srbije. Za ispitivanje uticaja članstva u građanskim udruženjima na članstvo u političkim partijama i nekonvencionalne oblike političkog aktivizma, primenjen je neparametarski test analize varijanse i post hoc test. Glavni nalazi istraživanja ukazuju da građanska participacija predstavlja značajan faktor političkog aktivizma građana Srbije. Rezultati empirijskih analiza ukazuju na značajne razlike u stepenu političke participacije, koje su zasnovane na razlikama u stepenu građanskog angažovanja u društvenim organizacijama. Implikacije ovog istraživanja mogu da predstavljaju osnov za kreiranje politika usmerenih ka jačanju građanskog društva i stvaranje podsticaja za aktivno učešće građana u političkom životu.

This paper presents an empirical contribution to the literature that tends to explain variations in corruption perceptions. Drawing on theoretical assumptions about the impact of corruption on the quality of the business environment, we explore possible determinants of perceived corruption. We argue that explaining the determinants of corruption perceptions could be a valuable input for creating effective anti-corruption policies. In the paper, we perform a detailed analysis on the case of Serbia, a transition country with relatively widespread corruption in the business environment. Using the non-parametric analysis of variance test, we examine the significance of differences in the perceived spread of corruption across a number of independent variables (regions, size of locality, industry, size, and years of operation). Specifying an ordered logistic regression model, we estimate the relation between corruption perceptions and a number of potential causes: frequencies of unofficial payments or gifts for different purposes, the impact that unofficial payments to public officials have on the business operations of the respondents, as well as attitudes of the respondents about the quality of the judicial system and political stability. We find that perceptions of corruption as an obstacle to business operations can be linked to the frequency of unofficial payments to deal with customs and taxes, as well as the impact of unofficial payments to local or regional government officials on business performance of the respondents. The results provide useful insights into what policy measures are necessary to reduce the level of corruption, as well as how the effects of such measures can be assessed.

Neoliberalism is subject to conflicting interpretations. Although often associated with the relation between state and market, neoliberalism is certainly beyond the scope of these relationships. It is a complex phenomenon composed of beliefs, practices and institutions. Neglecting any of these elements leads to a misunderstanding of the whole. One of the most complex issues facing those who deal with the issue of neoliberalism is to establish a connection between normative recommendations of neoliberal theory and political and economic changes in market economies. Elementary insights into economic changes over the last decades show that there is a certain correspondence between the neoliberal ideas and the trajectory of many capitalist economies, but also clear discrepancies. The goal of this paper is to investigate the analytical potential of the 'embeddedness' concept in the analysis of discrepancies between neoliberal theory and practice.

Corruption is a complex social phenomenon with multiple negative effects on the socio-economic efficiency. Therefore, it is a subject of research in various social disciplines. In economic analysis, special attention is directed towards corruption measurement. Despite numerous attempts, this issue has not been completely resolved. Since corruption is a phenomenon that cannot be directly observed, its measurement is based on indirect signals and subjective perceptions. Key problems in measuring corruption relate to the lack of objective data, estimation errors and the problems of establishing a clear link between the measurement results and effective anti-corruption policies. The aim of this paper is to highlight the basic methodological problems and limitations in measuring corruption and provide a theoretical overview of the existing research in this field. ; Korupcija predstavlja složenu društvenu pojavu sa višestrukim negativnim efektima na društveno-ekonomsku efikasnost. Iz tog razloga, korupcija je predmet istraživanja različitih društvenih nauka. U okviru ekonomske nauke, posebna pažnja usmerena je na merenje korupcije. Uprkos brojnim pokušajima, ovo pitanje nije još uvek u potpunosti razjašnjeno. Pošto korupciju nije moguće direktno meriti, merenje ove pojave zasniva se na indirektnim observacijama i subjektivnim percepcijama. Ključni problemi u merenju korupcije odnose se na nedostatak objektivnih podataka, greške u merenjima i teškoće u uspostavljanju jasne veze između rezultata merenja i efektivnih politika borbe protiv korupcije. Cilj ovog rada je da ukaže na osnovne metodološke probleme i ograničenja u merenju korupcije, kao i da pruži jedinstven teorijski pregled dosadašnjih istraživanja iz ove oblasti.

Trust in political institutions is very important for the stability of society and functioning of democracy, that is, for the legitimacy of democratic regime. The question of legitimacy is especially important for the consolidation of new democracies, such as Western Balkan countries. Since trust in political institutions determines citizens' willingness to comply with the decisions of these institutions, as well as governability of modern society, vicious circle could develop where low level of trust in political institutions impedes their efficient functioning, contributing to further decline of trust. Starting from the importance of trust in political institutions for the normal functioning of society, this paper explores the levels of trust in these institutions over time in Western Balkan countries, in order to establish whether existing levels of trust could represent an obstacle to governance and further consolidation of democracy.

The aim of this paper is to investigate, on the basis of comparative analysis of social capital development in Western Balkan countries, the avail-ability of different forms of social capital and to identify segments of social capital that represent obstacles to the faster development of these countries. The need for research on social capital in the Balkan countries is conditioned by the fact that apparent differences in the economic performance of these countries, despite more or less similar reform programs, cannot be explained solely by traditional growth factors. Heterogeneity of economic success of these economies is to a great extent determined by the socio-economic structure in which economic institutions are embedded. Balkan countries cannot base their development plans solely on the increase of human and physical capital, but must provide high-quality institutional environment. The results of comparative analysis show the specificity of social capital in the Western Balkan countries, which could in brief be described as a lack of trust in institutions and generalized trust, which stands in the way of improving the economic and institutional efficiency, and strong informal networks (i.e. network capital), which in most cases represent an obstacle to the reform processes.

European Economic and Monetary Union faces the most serious crisis since its foundation. The concept of the Union with a single monetary policy and autonomous fiscal policy, which is partially limited by the fiscal rules, as defined by the Maastricht Treaty (later confirmed by the Lisbon Treaty) and specified by the provisions of the Stability and Growth Pact, has proved to be totally inadequate to address the problems of fiscal discipline of the member states. In such circumstances, the need for institutional reform of the European Economic and Monetary Union has been imposed. Revised fiscal rules and regulations on the coordination of economic policies promote institutional base of EMU. The effectiveness and credibility of the new fiscal framework depends on its strict application, readiness of the Commission to monitor fiscal discipline of the member states and the willingness of other institution, firs of all Council to limit the degree of political discretion.

Emphasizing neoliberalism as a triumph of free market and unregulated capitalism, critics point out that the global financial crisis has undermined the legitimacy of neoliberalism. It is, therefore, very important to investigate whether there is a clear correlation between the normative recommendations of neoliberal theory and political and economic changes in the market economies in recent decades. Elementary insight into economic developments during the previous decades shows that there is a correspondence between the neoliberal ideas and the trajectory of many market economies, but also clear discrepancies between neoliberal theory and political and economic practices. Neoliberalism exists in articulation with the actors and institutions. Context is important because it implies variation, path dependency, and discrepancy in terms of processes and results. The main conclusion of this paper is that only if we perceive neoliberalism as socially embedded can we speak of neoliberalism as a political-economic doctrine, economic and political practice, and a process of economic transformation and establish a connection between them. ; Ističući neoliberalizam kao trijumf slobodnog tržišta, odnosno neregulisanog kapitalizma, kritičari ističu da je globalna finansijska kriza potkopala legitimitet neoliberalizma. Zato je veoma važno istražiti da li postoji jasna korelacija između normativnih preporuka neoliberalne teorije i političkih i ekonomskih promena u tržišnim privredama u proteklih nekoliko decenija. Elementarni uvid u ekonomska kretanja tokom poslednjih decenija pokazuje da postoji određeno podudaranje između neoliberalnih ideja i trajektorije mnogih tržišnih privreda u ovom periodu, ali i jasne diskrepance između neoliberalne teorije i političke i ekonomske prakse. Neoliberalizam egzistira u artikulaciji sa akterima i institucijama. Kontekst je važan zato što implicira različitost, zavisnost puta i nepodudarnost u pogledu procesa i rezultata. Osnovni zaključak rada je da jedino, ukoliko neoliberalizam posmatramo kao društveno ukorenjen, možemo da govorimo o neoliberalizmu kao političko-ekonomskoj doktrini, ekonomsko-političkoj praksi i procesu ekonomske transformacije i da ustanovimo vezu između njih.